Financial Risk Management MSc

London, Bloomsbury

Finance is driven by technology. Becoming an expert in both will enable you to thrive in risk management roles in the financial sector. The Financial Risk Management MSc brings together traditional theories in finance, data analytics, quantitative and computational modelling techniques – designed to produce talented practitioners in this field.

UK students International students
Study mode
Full-time
UK tuition fees (2024/25)
£31,100
Overseas tuition fees (2024/25)
£44,400
Duration
1 calendar year
Programme starts
September 2024
Applications accepted
Applicants who require a visa: 16 Oct 2023 – 05 Apr 2024
Applications close at 5pm UK time

Applications open

Applicants who do not require a visa: 16 Oct 2023 – 30 Aug 2024
Applications close at 5pm UK time

Applications open

Entry requirements

A minimum of an upper second-class UK Bachelor's degree (or an international qualification of an equivalent standard) in a relevant discipline with a strong quantitative component evidenced by good performance in mathematics and statistics examinations. Good performance is defined as scores in these subjects not falling below a UK upper second-class or international equivalent level. There is not an exhaustive list of relevant disciplines, but individuals with a background mathematics, statistics, physics, computer science, engineering, economics, or finance are encouraged to apply.

The English language level for this programme is: Level 2

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

This programme is suitable for international students on a Student visa – study must be full-time, face-to-face, starting September.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree


A distinctive finance programme taught from a computer science perspective, the Financial Risk Management MSc enables you to become an expert in computing, mathematics, and technology to manage and predict financial risk.

You will experience an innovative programme that blends core financial concepts with opportunities to place yourself at the cutting edge of computational techniques and technology, through topics such as machine learning, algorithmic trading and blockchain technologies.

Throughout this programme, you will learn from renowned lecturers who also undertake research or are practitioners in the finance industry. You will gain a core understanding of market risk, credit risk, operational risk, systemic risk, and financial engineering, complemented by topics that range from market microstructure to probability, stochastic processes, and data-driven modelling. As well as this, you will combine knowledge about how the financial system works with computational techniques.

You will undertake a substantial project as the culmination of your programme, bringing opportunities to work with an industry partner on a real-world problem, or to embark on an academic project supervised by one of our leading academics.

This programme gives you key skills to become a professional in financial markets and related technical aspects, while you immerse yourself in London life and the benefits of living in a global financial centre.

Who this course is for

The programme is aimed at students with a first degree in mathematics, finance, economics, physics, or computing who wish to gain the skills necessary to work within quantitative risk management. You will be expected to have established competency in probability, statistics, differential equations and the use of a computer to solve numerical problems.

What this course will give you

UCL is ranked 9th globally in the latest QS World University Rankings (2024), giving you an exciting opportunity to study at one of the world’s best universities.     

UCL Computer Science is recognised as a world leader in teaching and research. The department was ranked 1st in England and 2nd in the UK for research power in Computer Science and Informatics in the UK's most recent Research Excellence Framework (REF2021). You will learn from leading academic experts at the forefront of computer science innovation.

This finance programme is distinct as it is based in a computer science department. You will learn about how financial systems work, while keeping up with the latest technologies and computational techniques use by the financial sector.

The programme team takes a data-driven approach to our subject, enjoy the challenge and opportunity of entrepreneurial partnerships, and place a high value on our extensive range of industrial collaborations. You will have opportunities to get hands-on experience working on real-world projects with leading industry partners through the Department’s Industry Exchange Network (IXN).

London is a global financial centre and technology hub, so you will benefit from proximity to top technology and finance companies, entrepreneurial projects and practitioners in central London.

The foundation of your career

Graduates from this programme have pursued careers in the accountancy and financial services sectors. Others have gone into banking and investment, IT, technology and telecoms, publishing, journalism and translation, consultancy, logistics and distribution.

Employers include Credit Suisse, Deutsche Bank, Bloomberg, China Development Bank, Deloitte, Ernst & Young, Google, JP Morgan Chase, Moody’s Analytics, People’s Bank of China, PriceWaterhouseCoopers, Santander, Standard Chartered Bank and Royal Bank of Scotland.

Employability

A programme with exceptional relevance in the modern day, you will graduate from the Financial Risk Management MSc with expertise in how financial markets work, and with the mathematical and computational skills required for quantitative roles in the financial industry. This includes handling data, extracting information from data, and developing data driven models – including the know-how to validate and deploy them in international markets.

Networking

UCL is proud to support innovation and link our students and research directly to real-world business applications. From internships to solving complex problems with commercial partners, UCL Engineering has a collaborative, innovative spirit at its core.

As a student and later as a graduate, you will have access to a UCL Engineering careers events programme, connecting you with employers and alumni. This programme provides invaluable insight into the reality of different roles, sectors, and current application processes.

Entrepreneurial minds thrive at UCL. For example, UCL’s IDEALondon was the first innovation centre led by a university in London, and incubates companies post-seed to reach technical and business milestones. Our academic and industrial networks provide a safe and supportive environment to grow a company.

Teaching and learning

The programme’s core curriculum is typically delivered through a combination of lectures, tutorials, and lab classes, as well as directed and self-directed learning supported by teaching materials and resources, published through each module’s online virtual learning environment. Each module employs a teaching strategy that aligns with and supports its intended learning outcomes.

You will be assessed through a range of methods across the programme, which will vary depending on any optional or elective module choices. The programme’s core curriculum is typically assessed by methods including coursework, lab work, individual and group projects, class tests, written examinations, oral assessments, and, in all cases, culminating in a final research project/dissertation.

Contact time takes various forms, including lectures, seminars, tutorials, project supervisions, demonstrations, practical classes and workshops, visits, placements, office hours (where staff are available for consultation), email, videoconferencing, or other media, and situations where feedback on assessed work is given (one-to-one or group).

Each module has a credit value that indicates the total notional learning hours a learner will spend to achieve its learning outcomes. One credit is typically considered equal to 10 hours of notional learning, which includes all contact time, self-directed study, and assessment.

The contact time for each of your 15 credit taught modules will typically include 22-30 hours of teaching activity over the term of its delivery, with the balance then comprised of self-directed learning and working on your assessments. You will have ongoing contact with teaching staff via each module’s online discussion forum, which is typically used for discussing and clarifying concepts or assessment matters and will have the opportunity to access additional support via regular office hours with module leaders and programme directors.

Your research project/dissertation module is 60 credits and will include regular contact with your project supervisor(s), who will guide and support you throughout your project. You will dedicate most of your time on this module to carrying out research in connection with your project and writing up your final report.

Modules

The MSc Financial Risk Management is a one-year programme.

In term 1, you will study topics that introduce you to the applied mathematical and computational aspects of quantitative finance, probability theory, stochastic processes and their applications, and key concepts and models of asset pricing, portfolio theory, and risk measurement. You will choose from a range of optional topics, which may include numerical methods, market microstructure, operational risk management, financial institutions and markets, and digital finance.

In term 2, you study topics that introduce you to the instruments used to analyse, characterise, validate, parametrise, and model complex financial datasets. You will choose from a range of optional topics, which may include algorithmic trading, applied computational finance, machine learning with applications in finance, networks and systemic risk, quantitative modelling of operational risk and insurance analytics, and blockchain technologies. You will also begin preparation for your final research project/dissertation.

In term 3, you will primarily focus on your final research project/dissertation and any examinations that take place in the main examination period.

Please note that the list of modules given here is indicative. This information is published a long time in advance of enrolment and module content and availability are subject to change. Modules that are in use for the current academic year are linked for further information. Where no link is present, further information is not yet available.

Students undertake modules to the value of 180 credits. Upon successful completion of 180 credits, you will be awarded an MSc in Financial Risk Management.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk. Further information can also be obtained from the UCL Student Support and Wellbeing team.

Online - Open day

Graduate Open Events: Department of Computer Science

Join us for a live online information session to hear from Computer Science staff. We will cover areas such as the general admission process, careers support, and industry links/placements. There will also be an opportunity for you to ask staff and current students any questions you may have. Two sessions will run for this event. These sessions are the same and are repeated to cater to people in different time zones.

Fees and funding

Fees for this course

UK students International students
Fee description Full-time
Tuition fees (2024/25) £31,100
Tuition fees (2024/25) £44,400

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees.

Additional costs

All full-time students are required to pay a fee deposit of £2,000 for this programme. All part-time students are required to pay a fee deposit of £1,000.

Students will require a modern computer (PC or Mac) with minimum specifications 8GB RAM and 500GB SSD storage. A computer with the stated specifications is estimated to cost £500 or greater.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs.

Funding your studies

For more information about funding opportunities for UCL Computer Science taught postgraduate programmes, please see the department's scholarships webpage.

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

UCL East London Scholarship

Deadline: 20 June 2024
Value: Tuition fees plus £15,700 stipend ()
Criteria Based on financial need
Eligibility: UK

UCL Friends & Alumni Association scholarship for Machine Learning

Deadline: 3 June 2024
Value: $20,000 (1 year)
Criteria Based on both academic merit and financial need
Eligibility: EU, Overseas

Next steps

Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

There is an application processing fee for this programme of £90 for online applications and £115 for paper applications. Further information can be found at Application fees.

When we assess your application we would like to learn:

  • why you want to study Financial Risk Management at graduate level
  • why you want to study Financial Risk Management at UCL
  • what particularly attracts you to this programme
  • how your academic and professional background meets the demands of this programme
  • what programming experience you have
  • where you would like to go professionally with your degree

Together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.

Due to competition for places on this programme, no late applications will be considered. Students with visa requirements or applying for scholarships are advised to apply early.

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

Year of entry: 2024-2025

Got questions? Get in touch

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